Can one achieve financial independence through crypto currency?

ichsan ardi

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Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

The popularity of crypto currencies has been on the rise in recent years and many people are drawn to them as a means to achieveing goal of financial freedom.
Additionally, the decentralization and global nature of crypto currencies like Bitcoin, Ethereum and others, have made them an attractive option for those who want to take control their financial future and want to avoid traditional banks and financial institutions. They can also provide hedge against inflation and currency devaluation.

Given these factors, the dream of financial freedom can come true by using crypto currency?

In my opinion, yes, we can achieve our goal of financial freedom with crypto, but if you think you can get rich quick with crypto, I don't think so, there must be a risk in investment, but if we withdraw bitcoin from the start, bitcoin appears to have risen significantly to the top, many people like cryptocurrency because a lot of crypto is not controlled by local governments or banks that's the reason I chose cryptocurrency I see a bright future for cryptocurrencies for example bitcoin can protect us with its name inflation.

Dr.Osh

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I think the use of cryptocurrency to achieve financial freedom is very realizable. many people have proven that. it's just that their way to achieve financial freedom by leveraging crypto is to build other businesses. well, by taking advantage of investments from crypto, they can sometimes make a lot of money. so, with that, they can build other businesses that can make them make a lot of money. it's like multiplying money in crypto, then making new investments to achieve financial freedom.

uswa56

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Quote from: superman184 on April 06, 2023, 09:20:02 AM

Quote from: Wong Gendheng on April 06, 2023, 05:27:45 AM

I think cryptocurrencies can give a very large profit, I've also felt when a few years ago I got bitcoin from faucets, giveaway and others and I used for cloud mining and I saved and there was a fantastic price increase in 2017 made me get a profit that hasn't I once thought of, of course, to get financial freedom we cannot rely on Bitcoin, do real business to get financial freedom.

It's just an advantage that you get and may not be obtained by other people at the same time. So it also can't always be used as a specific or general reference because it only involves yourself at that time, even though what you said is very logical because indeed in 2017 the increase in the price of Bitcoin was extraordinary and it can be said that at that time Bitcoin immediately printed the ATH.

But after that year, you must also know how Bitcoin experienced a very severe decline in the market so that not a few people also experienced losses so that some people started not believing in Bitcoin anymore in 2018. But what I salute are those who remain steadfast and believe to Bitcoin in the year of the Bitcoin decline so that they finally won with even more extraordinary profits in 2021 where Bitcoin returned to print new ATH again.

everyone has a different experience, whether it's how to get Bitcoin or managing the money that has been earned, when the price of Bitcoin falls, not a few people panic, and many of them even leave Crypto and say that it won't recover, but in fact, in 2021, everyone surprised when Bitcoin hit its latest ATH again.

I experienced the same thing in 2017, I got a lot of income from Bounty and Airdrop but there were some mistakes that I made to my financial management so I couldn't achieve financial independence, actually if I manage it well of course only from Crypto income freedom or We can get financial independence.

Altryist

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Quote from: Uruhara on April 06, 2023, 09:07:45 AM

As long as we enter crypto with a lot of consideration and are careful in placing our investments only in crypto projects that really have stronger fundamentals. like bitcoin and ETH then if it is done slowly or not in a hurry and not with the aim of getting a quick profit. so if we continue to accumulate it consistently with the money we set aside and we save it for the long term like 5-10 years from now or more then I think it can give us maximum benefits and can pave the way for achieving financial freedom in the future. as early bitcoin holders must have attested by this time. i.e. those who have been holding bitcoins since 2009 or 2010 until now surely their lives have changed by this time.

For early investors, this has been a very good investment, but for those who are starting to invest now, there may not be such a big increase. But this does not mean that you do not need to buy, since bitcoin is still one of the most attractive investments. As many people like to say, this is digital gold, so this investment will bring profit, but no one knows what the profit will be.

superman184

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Quote from: Wong Gendheng on April 06, 2023, 05:27:45 AM

I think cryptocurrencies can give a very large profit, I've also felt when a few years ago I got bitcoin from faucets, giveaway and others and I used for cloud mining and I saved and there was a fantastic price increase in 2017 made me get a profit that hasn't I once thought of, of course, to get financial freedom we cannot rely on Bitcoin, do real business to get financial freedom.

It's just an advantage that you get and may not be obtained by other people at the same time. So it also can't always be used as a specific or general reference because it only involves yourself at that time, even though what you said is very logical because indeed in 2017 the increase in the price of Bitcoin was extraordinary and it can be said that at that time Bitcoin immediately printed the ATH.

But after that year, you must also know how Bitcoin experienced a very severe decline in the market so that not a few people also experienced losses so that some people started not believing in Bitcoin anymore in 2018. But what I salute are those who remain steadfast and believe to Bitcoin in the year of the Bitcoin decline so that they finally won with even more extraordinary profits in 2021 where Bitcoin returned to print new ATH again.

Uruhara

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As long as we enter crypto with a lot of consideration and are careful in placing our investments only in crypto projects that really have stronger fundamentals. like bitcoin and ETH then if it is done slowly or not in a hurry and not with the aim of getting a quick profit. so if we continue to accumulate it consistently with the money we set aside and we save it for the long term like 5-10 years from now or more then I think it can give us maximum benefits and can pave the way for achieving financial freedom in the future. as early bitcoin holders must have attested by this time. i.e. those who have been holding bitcoins since 2009 or 2010 until now surely their lives have changed by this time.

Aanuoluwatofunmi

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If you're being careful enough with cryptocurrency, then you can make more money from it without having much losses greater than your profits, you have to be careful with the cryptocurrency you're choosing or starting with, from past events, we've seen some turning a scam because their project finally failed and if such occur, then every investors looses their asset with them as well, that's why you need to go being decentralized when dealing with crypto and the best way us to start with bitcoin using a decentralized wallet.

Wong Gendheng

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I think cryptocurrencies can give a very large profit, I've also felt when a few years ago I got bitcoin from faucets, giveaway and others and I used for cloud mining and I saved and there was a fantastic price increase in 2017 made me get a profit that hasn't I once thought of, of course, to get financial freedom we cannot rely on Bitcoin, do real business to get financial freedom.

Unbunplease

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It should be noted that we live in a physical world with governments, control departments, tax authorities, and other government agencies. Cryptocurrencies are just one way to make money at the lowest cost of living in this physical world, but not a way to be independent. Society is the coexistence of interdependent people

Iadegbola34

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While the popularity of crypto currencies has indeed been on the rise in recent years, it is important to remember that they are a highly volatile and speculative asset class that carries significant risk. While it is possible to achieve financial freedom through investing in crypto currencies, it is not a guaranteed or easy path. It requires a deep understanding of the market, careful risk management, and a long-term investment strategy.

Furthermore, while the decentralization and global nature of crypto currencies offer some advantages, they also present challenges and potential regulatory risks. It is important for investors to educate themselves thoroughly and seek professional advice before investing in crypto currencies.

In summary, crypto currencies can be an attractive option for those seeking financial freedom, but they are not a one-size-fits-all solution and come with significant risks that must be carefully evaluated.

huu78

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I also doubt that because they need money to spend every month and if there is no income this month can they continue to work actively.
but for traders who can earn like 5000$ and above once trade I think they can live off of it.

naikturun

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I think you can but not as easy and fast as you want, because everything requires a process.
I know a few people who make a living from trading but don't talk to them very often.
I don't know how they faced the market yesterday but I'm sure they can survive.

Similificator

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Quote from: Sayeds56 on February 12, 2023, 05:02:31 AM

The popularity of crypto currencies has been on the rise in recent years and many people are drawn to them as a means to achieveing goal of financial freedom.
Additionally, the decentralization and global nature of crypto currencies like Bitcoin, Ethereum and others, have made them an attractive option for those who want to take control their financial future and want to avoid traditional banks and financial institutions. They can also provide hedge against inflation and currency devaluation.

Given these factors, the dream of financial freedom can come true by using crypto currency?

I believe so but the most important thing that should be taken into consideration when we talk about financial freedom through crypto currencies is knowledge. This is the most vital thing if anyone wants to achieve financial freedom through crypto. While some people are already sharing knowledge about this industry, I believe we still need more expert mentors that would offer services as much as how this industry needs more people willing to be open minded and learn about new things.

Also, I believe that there are tons of great opportunities nowadays for freelancers since there are also some jobs out there online that do pay in crypto. Although most of the time it is tech related, there are also some jobs that does not require excessive knowledge about the techy stuff, some basic knowledge or at least a few know-hows would be enough, one just has to have the drive.

Sayeds56

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Quote from: STT on March 20, 2023, 05:39:35 PM

I still dont think its the currency itself which provides the opportunity, its a conduit not the total destination. You will still need a good idea and a business that benefits from the BTC revenue, once you have something to build then possibly crypto and its presence in the online world is a good thing that helps a person or business gain more then they would otherwise. Still I expect alot of failure from any startup within this sector, I dont think its easy going.

You are correct that it's not going to be so easy to achieve financial independence through crypto currencies, it will need creating workable plan, setting achievable goals and executing them regularly. One possible approach could be, consistent investment in Bitcoin during significant dips by using dollar cost average (DCA), waiting for the return of bull market and eventually selling at your target price. By doing so, one could potentially maximize profit and work towards achieving financial independence.

EdenHazard

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Quote from: STT on March 20, 2023, 05:39:35 PM

I still dont think its the currency itself which provides the opportunity, its a conduit not the total destination. You will still need a good idea and a business that benefits from the BTC revenue, once you have something to build then possibly crypto and its presence in the online world is a good thing that helps a person or business gain more then they would otherwise. Still I expect alot of failure from any startup within this sector, I dont think its easy going.

People thinks that having some huge gains time after time from your bitcoin holding making you reached the financial freedom already , it's hard to accept that very few people who can hold bitcoin for long time enough , mostly when they see the great gain like 100% or so they would cash them out.

And those people who gained 100000% might be the one considered that achieved the financial freedom instantly without having to build their own business empire , enough to feed themselves for century.

STT

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I still dont think its the currency itself which provides the opportunity, its a conduit not the total destination. You will still need a good idea and a business that benefits from the BTC revenue, once you have something to build then possibly crypto and its presence in the online world is a good thing that helps a person or business gain more then they would otherwise. Still I expect alot of failure from any startup within this sector, I dont think its easy going.

carlfebz2

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Quote from: soramon on March 20, 2023, 07:22:37 AM

There is a chance that you can achieve financial freedom. Any investment can bring you to that point. But, it is not easy as it said. Pratically you need to be smart, patiance and aware to any condition. Especially on cryptocurrency the market is volatile you must extra careful with your investment.

You should really be careful for whatever investment decisions you would be taking on which we do know that its not recommendable for you to become that desperate and making investment like a mad man or

simply without having those solid considerations on how you would do such things.We've seen some people who do make out that financial independence thought crypto but we dont know on whats actually behind those stories which is something that cant really be achieved so easily.Some do just simply hold their assets for long time and some do been making wise moves and decisions towards their
investment and ended up on getting positive results.

Twentyonepaylots

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Yes, I think you can be financially independent through cryptocurrencies but do not expect it to happen in just a blink of an eye. You must consider that investing in this wont always guarantee a profit. But, if you approach it with a right and planned approach, if you assess the economy and the prices, you might get the results that you want. It would never be easy to achieve it since being financially independent requires you to have a steady cash flow in which you can use the money in anything you want. This may take time, but for me, it is achievable, just be adaptive to the changes in the economy.

soramon

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There is a chance that you can achieve financial freedom. Any investment can bring you to that point. But, it is not easy as it said. Pratically you need to be smart, patiance and aware to any condition. Especially on cryptocurrency the market is volatile you must extra careful with your investment.

Kadal Ijo

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There have been many successful people and become new rich people from bitcoin, the fantastic price increase since 2010 has made many people make bitcoin as an asset or a way to achieve financial freedom, for those of us who are just starting out, of course, we have to be brave to sell our assets to buy bitcoin, no problem the current price is around $27k if we can buy 10 btc and hold it long term then we have the chance to become millionaires with only 10 btc.

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